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Flybe-9

Old 14th Nov 2018, 08:09
  #801 (permalink)  
 
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Is the plan to sell as one business or hive off different departments? My monies on divide it up and sell what you can. Better that than going belly up!
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Old 14th Nov 2018, 08:10
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Originally Posted by ATNotts
More likely a pre-pack administration, where the sale is agreed before entering administration, ensuring continuity of service, whilst the creditors are hung out to dry. Either that or a purchase by a bunch of venture capitalist sharks such as Greybull.
Greybull ownership would be the worst possible outcome that’s for sure
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Old 14th Nov 2018, 08:23
  #803 (permalink)  
 
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Easy's share price is virtually unchanged year on year and they are in the same market so Flybe's excuses are totally bolleaux. Nothing at all to do with paying the over-rated CEO a shed load of "golden hello's" then ?
EasyJet are in a completely different market, largely London centric in UK, and really a pan European airline.

FlyBe is suffering in the same way as most regional carriers in recent history have, too many intra regional services making too little, if any money. In the scheme of things only the major secondary trunk routes such as those between SOU / BHX / MAN / CWL and Scotland / NI, plus connections between the likes of MAN / BHX / SOU to major European business centres are truly viable with the fleet that BE operate.

Any new owner is going to drastically cut back on peripheral, marginal services which will bode badly for some UK airports.
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Old 14th Nov 2018, 08:31
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My money will be on IAG, restructure the routes, some branded to Cityflyer and some to vueling. Either way there will be a dramatic reduction of routes and expect prices to rise for passengers.

Alot of airlines have an interested in the outcome as flybe feed many passengers into their hubs for international routes etc. VS for example.

Lots of uncertainty for staff, my thoughts are with you at this unsettled time.
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Old 14th Nov 2018, 08:33
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Originally Posted by ATNotts
EasyJet are in a completely different market, largely London centric in UK, and really a pan European airline.

FlyBe is suffering in the same way as most regional carriers in recent history have, too many intra regional services making too little, if any money. In the scheme of things only the major secondary trunk routes such as those between SOU / BHX / MAN / CWL and Scotland / NI, plus connections between the likes of MAN / BHX / SOU to major European business centres are truly viable with the fleet that BE operate.

Any new owner is going to drastically cut back on peripheral, marginal services which will bode badly for some UK airports.
Whilst I have no brief for Flybe's recent management I do feel they took over a toxic legacy from Jim (call me James) French. Under his stewardship the airline vastly expanded and over ordered from Embraer, and it has been reported that terms of acquisition were very costly. I do hope for the sake of staff and airports such as SOU that a rescue can be arranged.


Last edited by Planespeaking; 14th Nov 2018 at 08:35. Reason: punctuation
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Old 14th Nov 2018, 08:39
  #806 (permalink)  
 
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In terms of a sale, Flybe management have made a bit of a rod for their own back banging on about how expensive and unprofitable the E195s are. Who'd want to take that on? I'm with ATNotts - pre-pack Administration or just insolvency with the others nipping in to pick up the "worthwhile" routes (Loganair back on GLA MAN for example).
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Old 14th Nov 2018, 08:51
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The fact that Stobart have already started flying a couple of EMB's (or are about to) for CFE could be described as interesting.
Could it? In what way?
Stobart pick-up Flybe for a snip (much cheaper than last time they tried), operate as BA under a franchise agreement having cherry-picked the routes that will work, as many have already suggested.

Even if the above happens, likely to be bad news for even the larger bases and for or Exeter in general :-(

I fly with BEE quite a bit and the people are great - sad to see this happening.
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Old 14th Nov 2018, 09:03
  #808 (permalink)  
 
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Originally Posted by mik3bravo
True, but shareholders run the show now, board largely irrelevant under these circumstances.
The public shareholders, incidentally, don't have any share in the actual airline. It remains a limited company ( FlyBE Ltd ).

They do have shares in FlyBE Group Plc which is a holding company ( formerly Walker Aviation Ltd ). So they can tell that board what to do, but not the airline management.

The aircraft which are owned directly are registered to FlyBE Ltd, rather than the Group, which could make a sale of that unit quite straiightforward; own aircraft, no public shareholders.

Likewise FlyBE Aviation Services Ltd is a nice tidy little MRO package, complete with a contract for A400 work.

I forsee the individual units being sold-off and the Group fading away into nothingness.

Last edited by El Bunto; 14th Nov 2018 at 09:26.
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Old 14th Nov 2018, 09:06
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If BA CITIflyer did get it I fear for the Exeter HQ.

I assume they would move the HQ to Manchester where the CF headquarters staff are based.
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Old 14th Nov 2018, 09:24
  #810 (permalink)  
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Originally Posted by ATNotts
EasyJet are in a completely different market, largely London centric in UK, and really a pan European airline.
The market is the same regardless and both Flybe and Easy have a strong regional presence. Both are under the cosh of the same punitive Eu rules, so beloved by airline CFO's.

Anyway, good of Flybe to blame Brexit and hide the news on a day when that subject will dominate the headlines. Coincidence ? I think not.
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Old 14th Nov 2018, 09:42
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You have to wonder who would hire Christine Ourmieres-Widener after this. She hasn't done well at Cityjet or Flybe.
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Old 14th Nov 2018, 10:01
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Originally Posted by BA318
You have to wonder who would hire Christine Ourmieres-Widener after this. She hasn't done well at Cityjet or Flybe.
Agreed. She focuses her time on far too many projects outside of the airline operation itself unfortunately. The airlines needs someone with focus and structure only for the business in hand.

Such a shame, but fingers crossed for a very positive outcome for all involved with the company. Especially its very hard working and passionate frontline staff. Flybe are a very good airline with a very good product for its market. I hope it gets the investment and leadership it needs and remains as Flybe.
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Old 14th Nov 2018, 10:20
  #813 (permalink)  
 
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Originally Posted by El Bunto
The public shareholders, incidentally, don't have any share in the actual airline. It remains a limited company ( FlyBE Ltd ).

They do have shares in FlyBE Group Plc which is a holding company ( formerly Walker Aviation Ltd ). So they can tell that board what to do, but not the airline management.

The aircraft which are owned directly are registered to FlyBE Ltd, rather than the Group, which could make a sale of that unit quite straiightforward; own aircraft, no public shareholders.

Likewise FlyBE Aviation Services Ltd is a nice tidy little MRO package, complete with a contract for A400 work.

I forsee the individual units being sold-off and the Group fading away into nothingness.
I agree.

I remember Walker when he ran his steel company and moved to Jersey and invested in building Jersey European. Indeed the instructor who sent me solo was later employed as a pilot flying their old twin Otters..

A lot of their business has been built on routes that are just about marginal.

Norwich falls in to that arena.

With the decline in operations in the southern North Sea one has to ask how much longer the regular revenue from oil traffic will support the airport.

If we spool back a few years ago we had this fiasco.

In 2008, in order to avoid losing a £280,000 rebate from Norwich Flybe advertised for "actors", as well as offering free return flights to Dublin on its website.

Eastern,Flybe and Loganair face tough times ahead as do some of the airports they serve.
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Old 14th Nov 2018, 10:51
  #814 (permalink)  
 
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You have to wonder who would hire Christine Ourmieres-Widener after this.
One suspects that at 54, and that after the best part of 10 years earning a CEO salary she probably doesn't need to work again.
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Old 14th Nov 2018, 10:55
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The old 'Jersey European' culture still exists to this day, probably why they're in such a spot
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Old 14th Nov 2018, 11:34
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Current owners are in this link https://www.marketscreener.com/FLYBE...78595/company/

Break up value is greater than value of the company on Stock Exchange which is not a good thing. This means someone can buy and break up all the parts of it................... or as they are better known as "asset strip".
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Old 14th Nov 2018, 11:47
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Heard earlier today a big middle eastern opeartor is interested if true it good be good news
Emirates maybe?
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Old 14th Nov 2018, 11:48
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I see that the share price has risen only a little, which suggests that the market isn't anticipating any bidding war.
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Old 14th Nov 2018, 14:10
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Probably not the best day to break the news with all the Brexit news or was it a ploy? I am sure there are more than one or two Airport commercial departments having a very reflectave and contemplatery conversation with the airport teams today.
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Old 14th Nov 2018, 17:14
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And by the end of day the shares were down slightly.
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